The great depression and the new deal a very short introduction

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The great depression and the new deal a very short introduction

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he T w w w om l.c Al Ge t l.c om w w w T he Ge t Al The Great Depression and the New Deal: A Very Short Introduction Very Short Introductions available now: Al CHRISTIANITY Linda Woodhead CLASSICS Mary Beard and John Henderson CLASSICAL MYTHOLOGY Helen Morales CLAUSEWITZ Michael Howard THE COLD WAR Robert McMahon CONSCIOUSNESS Susan Blackmore CONTEMPORARY ART Julian Stallabrass CONTINENTAL PHILOSOPHY Simon Critchley COSMOLOGY Peter Coles THE CRUSADES Christopher Tyerman CRYPTOGRAPHY Fred Piper and Sean Murphy DADA AND SURREALISM David Hopkins DARWIN Jonathan Howard THE DEAD SEA SCROLLS Timothy Lim DEMOCRACY Bernard Crick DESCARTES Tom Sorell DESIGN John Heskett DINOSAURS David Norman DOCUMENTARY FILM Patricia Aufderheide DREAMING J Allan Hobson DRUGS Leslie Iversen THE EARTH Martin Redfern ECONOMICS Partha Dasgupta EGYPTIAN MYTH Geraldine Pinch EIGHTEENTH-CENTURY BRITAIN Paul Langford THE ELEMENTS Philip Ball EMOTION Dylan Evans EMPIRE Stephen Howe ENGELS Terrell Carver w w w T he Ge t AFRICAN HISTORY John Parker and Richard Rathbone AMERICAN POLITICAL PARTIES AND ELECTIONS L Sandy Maisel THE AMERICAN PRESIDENCY Charles O Jones ANARCHISM Colin Ward ANCIENT EGYPT Ian Shaw ANCIENT PHILOSOPHY Julia Annas ANCIENT WARFARE Harry Sidebottom ANGLICANISM Mark Chapman THE ANGLO-SAXON AGE John Blair ANIMAL RIGHTS David DeGrazia ANTISEMITISM Steven Beller ARCHAEOLOGY Paul Bahn ARCHITECTURE Andrew Ballantyne ARISTOTLE Jonathan Barnes ART HISTORY Dana Arnold ART THEORY Cynthia Freeland THE HISTORY OF ASTRONOMY Michael Hoskin ATHEISM Julian Baggini AUGUSTINE Henry Chadwick BARTHES Jonathan Culler BESTSELLERS John Sutherland THE BIBLE John Riches THE BRAIN Michael O’Shea BRITISH POLITICS Anthony Wright BUDDHA Michael Carrithers BUDDHISM Damien Keown BUDDHIST ETHICS Damien Keown CAPITALISM James Fulcher THE CELTS Barry Cunliffe CHAOS Leonard Smith CHOICE THEORY Michael Allingham CHRISTIAN ART Beth Williamson l.c om VERY SHORT INTRODUCTIONS are for anyone wanting a stimulating and accessible way in to a new subject They are written by experts, and have been published in more than 25 languages worldwide The series began in 1995, and now represents a wide variety of topics in history, philosophy, religion, science, and the humanities Over the next few years it will grow to a library of around 200 volumes — a Very Short Introduction to everything from ancient Egypt and Indian philosophy to conceptual art and cosmology Al l.c om THE KORAN Michael Cook LINGUISTICS Peter Matthews LITERARY THEORY Jonathan Culler LOCKE John Dunn LOGIC Graham Priest MACHIAVELLI Quentin Skinner THE MARQUIS DE SADE John Phillips MARX Peter Singer MATHEMATICS Timothy Gowers MEDICAL ETHICS Tony Hope MEDIEVAL BRITAIN John Gillingham and Ralph A Griffiths MODERN ART David Cottington MODERN CHINA Rana Mitter MODERN IRELAND Senia Pasˇeta MOLECULES Philip Ball MUSIC Nicholas Cook MYTH Robert A Segal NATIONALISM Steven Grosby THE NEW TESTAMENT AS LITERATURE Kyle Keefer NEWTON Robert Iliffe NIETZSCHE Michael Tanner NINETEENTH-CENTURY BRITAIN Christopher Harvie and H C G Matthew NORTHERNIRELAND Marc Mulholland THE OLD TESTAMENT Michael D Coogan PARTICLE PHYSICS Frank Close PAUL E P Sanders PHILOSOPHY Edward Craig PHILOSOPHY OF LAW Raymond Wacks PHILOSOPHY OF SCIENCE Samir Okasha PHOTOGRAPHY Steve Edwards PLATO Julia Annas POLITICS Kenneth Minogue POLITICAL PHILOSOPHY David Miller POSTCOLONIALISM Robert Young POSTMODERNISM Christopher Butler POSTSTRUCTURALISM Catherine Belsey PREHISTORY Chris Gosden PRESOCRATIC PHILOSOPHY Catherine Osborne PSYCHOLOGY Gillian Butler and Freda McManus PSYCHIATRY Tom Burns THE QUAKERS Pink Dandelion QUANTUM THEORY John Polkinghorne RACISM Ali Rattansi w w w T he Ge t ETHICS Simon Blackburn THE EUROPEAN UNION John Pinder and Simon Usherwood EVOLUTION Brian and Deborah Charlesworth EXISTENTIALISM Thomas Flynn FASCISM Kevin Passmore FEMINISM Margaret Walters THE FIRST WORLD WAR Michael Howard FOSSILS Keith Thomson FOUCAULT Gary Gutting THE FRENCH REVOLUTION William Doyle FREE WILL Thomas Pink FREUD Anthony Storr FUNDAMENTALISM Malise Ruthven GALILEO Stillman Drake GAME THEORY Ken Binmore GANDHI Bhikhu Parekh GEOPOLITICS Klaus Dodds GERMAN LITERATURE Nicholas Boyle GLOBAL CATASTROPHES Bill McGuire GLOBALIZATION Manfred Steger GLOBAL WARMING Mark Maslin THE GREAT DEPRESSION AND THE NEW DEAL Eric Rauchway HABERMAS James Gordon Finlayson HEGEL Peter Singer HEIDEGGER Michael Inwood HIEROGLYPHS Penelope Wilson HINDUISM Kim Knott HISTORY John H Arnold HIV/AIDS Alan Whiteside HOBBES Richard Tuck HUMAN EVOLUTION Bernard Wood HUMAN RIGHTS Andrew Clapham HUME A J Ayer IDEOLOGY Michael Freeden INDIAN PHILOSOPHY Sue Hamilton INTELLIGENCE Ian J Deary INTERNATIONAL MIGRATION Khalid Koser INTERNATIONAL RELATIONS Paul Wilkinson ISLAM Malise Ruthven JOURNALISM Ian Hargreaves JUDAISM Norman Solomon JUNG Anthony Stevens KABBALAH Joseph Dan KAFKA Ritchie Robertson KANT Roger Scruton KIERKEGAARD Patrick Gardiner he Available soon: w w T 1066 George Garnett Expressionism Katerina Reed-Tsocha Galaxies John Gribbin Geography John Matthews and David Herbert History of Life Michael Benton History of Medicine William Bynum Law Raymond Wacks The Meaning of Life Terry Eagleton Memory Jonathan Foster w Al l.c om SOCIALISM Michael Newman SOCIOLOGY Steve Bruce SOCRATES C C W Taylor THE SPANISH CIVIL WAR Helen Graham SPINOZA Roger Scruton STUART BRITAIN John Morrill TERRORISM Charles Townshend THEOLOGY David F Ford THE HISTORY OF TIME Leofranc Holford-Strevens TRAGEDY Adrian Poole THE TUDORS John Guy TWENTIETH-CENTURY BRITAIN Kenneth O Morgan THE VIKINGS Julian Richards WITTGENSTEIN A C Grayling WORLD MUSIC Philip Bohlman THE WORLD TRADE ORGANIZATION Amrita Narlikar Ge t THE RENAISSANCE Jerry Brotton RENAISSANCE ART Geraldine A Johnson ROMAN BRITAIN Peter Salway THE ROMAN EMPIRE Christopher Kelly ROUSSEAU Robert Wokler RUSSELL A C Grayling RUSSIAN LITERATURE Catriona Kelly THE RUSSIAN REVOLUTION S A Smith SCHIZOPHRENIA Chris Frith and Eve Johnstone SCHOPENHAUER Christopher Janaway SHAKESPEARE Germaine Greer SIKHISM Eleanor Nesbitt SOCIAL AND CULTURAL ANTHROPOLOGY John Monaghan and Peter Just Mormonism Richard Lyman Bushman Nelson Mandela Elleke Boehmer Nuclear Weapons Joseph M Siracusa Religion in America Timothy Beal Science and Religion Thomas Dixon Sexuality ´ronique Mottier Ve The United Nations Jussi M Hanhima ăki The Vietnam War Mark Atwood Lawrence For more information visit our web site www.oup.co.uk/general/vsi/ l.c om Eric Rauchway he Ge t Al The Great Depression & the New Deal w w w T A Very Short Introduction Oxford University Press, Inc., publishes works that further Oxford University’s objective of excellence in research, scholarship, and education m Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto ll co With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright ß 2008 by Oxford University Press, Inc tA Published by Oxford University Press, Inc 198 Madison Avenue, New York, NY 10016 Ge www.oup.com Oxford is a registered trademark of Oxford University Press he All rights reserved No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press w w w T Library of Congress Cataloging-in-Publication Data Rauchway, Eric The Great Depression and the New Deal : a very short introduction / Eric Rauchway p cm.— (Very short introductions ; 166) Includes bibliographical references and index ISBN 978–0–19–532634–5 (pbk.) United States—History—1919–1933 United States—History—1933–1945 Depressions—1929—United States New Deal, 1933–1939 United States—Economic conditions—1918–1945 United States—Social conditions—1933–1945 Roosevelt, Franklin D (Franklin Delano), 1882–1945 Depressions—1929—Europe Europe—Economic conditions—1918–1945 I Title E806.R38 2008 973.91—dc22 2007030523 Printed in the United States of America on acid-free paper l.c om Contents List of Illustrations ix The World in Debt he The Hoover Years 23 Americans in the Depression 38 T Reflation and Relief 56 w Managing Farm and Factory 72 w Countervailing Power 87 The End of the Beginning 105 w Ge t Introduction Al Acknowledgments viii Conclusion 126 Further Reading 134 Table Major federal acts of the Great Depression and New Deal 137 Index 143 l.c om Acknowledgments w w w T he Ge t Al I owe most to scholars cited in the text and am additionally grateful to Alan Brinkley, Greg Clark, Andrew Cohen, Meg Jacobs, Ari Kelman, David Kennedy, Peter Lindert, Alan Olmstead, Kathy Olmsted, Steve Sheffrin, Alan M Taylor, Louis Warren, undergraduates enrolled in History 174B at UC Davis in Spring 2007, and the conscientious referees and staff of the press for valuable comments and conversations about the Great Depression and New Deal w T GDP and Unemployment 55 Historical Statistics of the United States, series Ba475 (unemployment) and Ca9 (GDP) w Franklin D Roosevelt during a ‘‘Fireside Chat’’ 58 Library of Congress, LC-USZ62-118215 w Civilian Conservation Corps weeding a Tennessee Valley Authority nursery 90 Library of Congress, LC-USW3-004511-D Ge t 45 he Hooverville squatters’ shacks Library of Congress, LC-USF34-004976-E 41 Al Breadline in New York City Franklin D Roosevelt Library l.c om List of Illustrations Civilian Conservation Corps poultry farm 79 Franklin D Roosevelt Library Social Security Act Franklin D Roosevelt Library ‘‘White Trade Only’’ 107 Library of Congress, LCUSF33- 006392-M4 Sinclair Lewis’s It Can’t Happen Here Library of Congress, LC-USZC2-881 98 121 10 WPA Federal Art Project Mural 122 National Archives and Records Administration 69-N-P-1304 Al Ge t he T w w w The Great Depression and the New Deal l.c om Olson, James S Saving Capitalism: The Reconstruction Finance Corporation and the New Deal, 1933–1940 Princeton: Princeton University Press, 1988 Patterson, James T America’s Struggle against Poverty, 1900–1985 Cambridge, MA: Harvard University Press, 1986 ——— Congressional Conservatism and the New Deal: The Growth of the Conservative Coalition in Congress, 1933–1939 Westport, CT: Greenwood Press, 1981 ——— The New Deal and the States: Federalism in Transition Princeton: Princeton University Press, 1969 Phillips, Sarah T This Land, This Nation: Conservation, Rural America, and the New Deal New York: Cambridge University Press, 2007 Romer, Christina D ‘‘The Great Crash and the Onset of the Great Depression.’’ Quarterly Journal of Economics 105, no (1990): 597–62 ——— ‘‘What Ended the Great Depression?’’ Journal of Economic History 52, no (1992): 757–84 Rothermund, Dietmar The Global Impact of the Great Depression London: Routledge, 1996 Rowley, William D M L Wilson and the Campaign for the Domestic Allotment Lincoln: University of Nebraska Press, 1970 Saloutos, Theodore ‘‘New Deal Agricultural Policy: An Evaluation.’’ Journal of American History 61, no (1974): 394–416 Schulman, Bruce J From Cotton Belt to Sunbelt: Federal Policy, Economic Development, and the Transformation of the South, 1938–1980 Durham, NC: Duke University Press, 1994 Skidelsky, Robert John Maynard Keynes: A Biography vols London: Macmillan, 1983–2000 Smith, Jason Scott Building New Deal Liberalism: The Political Economy of Public Works, 1933–1956 Cambridge: Cambridge University Press, 2006 Volanto, Keith J Texas, Cotton, and the New Deal College Station: Texas A&M University Press, 2005 Weir, David R ‘‘A Century of U.S Unemployment, 1890–1990: Revised Estimates and Evidence for Stabilization.’’ Research in Economic History 14 (1992): 301–46 136 Table Major federal acts of the Great Depression and New Deal 137 Name of action Citation Date Description Reconstruction Finance Corporation Act 47 Stat 1/23/32 Created Reconstr lized at $500m a three times as mu Glass-Steagall Act 47 Stat 56 2/27/32 Permitted Federa government secu Federal Home Loan Bank Act 47 Stat 725 7/22/32 Created Home L Reserve System, Emergency Banking Relief Act 48 Stat 3/9/33 eG h T w w w A t e Title I recognized president to halt b treasury to impou the currency to ap books, and determ RFC to buy and s Reserve System’s Civilian Conservation Corp Reforestation Relief Act 48 Stat 22 3/31/33 Authorized the p the unemployed, Corps (CCC), chi Agricultural Adjustment Act 48 Stat 31 5/12/33 Title I recognized disparity between Table (Continued) Name of action Citation Date Description policy to redress; Agricultural Adju production of com Title II, or the Em eral power to bac Amendment, aut and determine th A t e 48 Stat 55 5/12/33 Tennessee Valley Authority Act 48 Stat 58 5/18/33 Created the Tenne and operate Wilso gation and control electrical power an 5/27/33 Required corpora Trade Commissio 138 Federal Emergency Relief Act w T w w Declared an econo local relief funds, a gency Relief Admi G e h Securities Act of 1933 48 Stat 74 Home Owners’ Loan Act 48 Stat 128 6/13/33 Created the Hom refinance mortga Banking Act of 1933 (Glass-Steagall 48 Stat 162 6/16/33 Increased power transactions of F Banking Act) Federal Deposit mercial banks’ a 139 National Industrial Recovery Act 48 Stat 195 6/16/33 Civil Works Administration Executive Order no 6420B 11/9/33 Gold Reserve Act 48 Stat 337 w T w w Title I recognize anti-trust law, a to address the e codes; Roosevel (NRA) Title II Emergency Adm Public Works Ad appropriated fo A t e G e h Roosevelt create funded with $40 "for the purpose 1/30/34 Placed control o authorized the p for a two-year p value; establishe Securities Exchange Act 48 Stat 881 6/6/34 Created Securiti empowered it to change National Housing Act 48 Stat 1246 6/27/34 Created the Fed out of the RFC, Table (Continued) 140 Name of action Citation Date Description Joint Resolution for Enforcement of National Industrial Recovery Act 48 Stat 1183 6/19/34 Authorized the p (collective barga Roosevelt create Emergency Relief Appropriation Act of 1935 49 Stat 115 4/8/35 Appropriated $4 Resettlement Administration Executive Order no 7027 4/30/35 Under the Emerg created the Rese tion of poor farm Administration ( Works Progress Administration Executive Order no 7034 w w w Rural Electrification Administration T Executive Order no 7037 A t e G e h 5/6/35 Under the Emer Roosevelt create including the W from the relief ro in the shortest t 5/11/35 Roosevelt create to support the e the Emergency National Labor Relations Act (Wagner Act) 49 Stat 449 7/5/35 Created new NLR in 1934, to assure bargain collective Social Security Act 49 Stat 620 8/14/35 Title I provided f II provided for fe grants to states t plans Title IV p children Title V child welfare Ti public health ser Board to study a providing econom VIII and IX levie support the progr the blind 141 A t e Banking Act of 1935 49 Stat 684 w w w Public Utilities Holding Company Act T 49 Stat 803 G e h 8/23/35 Title I made the eral Reserve Act Federal Reserve S powers to regula and supervise ba 8/26/35 Defined a public of that public int abuses and also t Table (Continued) 142 Name of action Citation Date Description Soil Conservation and Domestic Allotment Act 49 Stat 1148 2/20/36 Aimed at achievi conservation mea National Housing Act Amendments of 1938 52 Stat 2/3/38 Amended Nation resell mortgages of Washington, l Mortgage Associ Agricultural Adjustment Act of 1938 52 Stat 31 2/16/38 Fair Labor Standards Act 52 Stat 1060 w w w T A t e G e h 6/25/38 Established the y farmers to meet Established natio banned child lab l.c om Index A Al Berlin, Isaiah, 1, 5, 56 Black Thursday, 19 Black, John D., 80 Bonus Army, 1, 50–52 Bretton Woods, 6, 128–31 Brown, E Cary, 127 Ge t AAA (Agricultural Adjustment Administration), 78–82, 93, 96, 97, 109, 118, 137 AFL (American Federation of Labor), 82 African Americans, 24, 44, 45, 46, 100, 107, 112, 117 Agee, James, 48 Agricultural Adjustment Act, 77, 137 agriculture See farms and farming American Liberty League, 108, 109 Anglo-American Trade Agreement, 128 automotive industry, 13, 14, 19 w B w T he C w Bagehot, Walter, 27, 30 Bank for Reconstruction and Development See World Bank Bankhead Cotton Control Act, 80 Banking Act of 1933, 59, 138 Banking Act of 1935, 62, 141 banking system, 30, 57, 59, 72 banks, 10, 17, 27, 29, 34, 63, 118; failures of, 19, 29, 30, 31, 56 Baruch, Bernard, 18 143 Carr, E H., 11 CCC (Civilian Conservation Corps), 64, 66, 90, 108, 126, 137 CES (Committee on Economic Security), 97, 98, 102 charities, 41 Clayton Act, 82 communism, 50, 51, 110, 112, 120, 130 Consumers Advisory Board, 96 consumer spending, 13, 15, 19, 82 consumers’ unions, 96, 97 corruption, 68, 84 countervailing power, 5, 87, 88, 92, 95–97, 102, 118 court-packing, 113, 114 CWA (Civil Works Administration), 66–67, 139 Coolidge, Calvin, 23, 76, 89 Coughlin, Charles See Father Coughlin credit, purchasing on, 13–15, 18, 19 D G economic growth, 1, 5, 12–15, 57, 131 elections: of 1928, 23, 25; of 1930, 31; of 1932, 35, 52, 89, 105; of 1936, 102, 106, 108, 110–12; of 1938, 117, 126 Emergency Banking Act, 57, 61, 62 Emergency Relief and Construction Act, 63 European Recovery Program See Marshall Plan Evans, Walker, 48 Galbraith, John Kenneth, 87 global finance, 18, 20, 130 Gold Reserve Act, 62 gold standard, 59–62 Great Crash, 3, 18, 19, 28, 30, 40, 44, 47, 50, 77 Great Depression, 2, 3, 8, 19, 25, 38, 46, 48–50, 65, 69, 73, 101, 111, 126 Guffey Coal Act, 110 T he Ge t Al E F w w Fair Labor Standards Act, 116, 126, 142 Father Coughlin, 49, 50, 112 Farrell, James, 32 farm policy, 73–79 farms and farming, 28, 46, 47, 56, 62, 73–76, 78, 79 FDIC (Federal Deposit Insurance Corporation), 59, 139, 141 Federal Art Project, 120 Federal Emergency Relief Act, 65, 137 Federal Employment Stabilization Board, 32 Federal Farm Board, 77 w The Great Depression and the New Deal Darrow, Clarence, 25, 84 debt: personal, 13, 15, 28, 47, 60, 62, 74; intergovernmental, 10, 12, 15, 27–29, 33, 60 See also monetary policy depressions and recessions, 5, 12, 29, 38, 47, 57, 115 See also Great Depression Dies, Martin, 120 dust bowl, 47 l.c om Federal Land Bank system, 34 Federal Relief Appropriation Act, 67, 140 Federal Reserve System, 1, 3, 17, 27, 28, 30, 34, 57, 59, 61, 62, 137, 138, 141 Federal Theatre Project, 120, 121 Federal Writers’ Project, 119 FERA (Federal Emergency Relief Administration), 65–67, 137 fiscal policy, 5, 12, 26, 29, 33, 65, 66, 67, 93, 115, 116, 126, 127 144 H Harburg, E Y., 39 Harrison, George L., 28 health insurance, 102 Hickok, Lorena, 48 hoboes, 44, 64 Hofstadter, Richard, 10 Home Loan Banks, 34, 137 Homestead Act, 73 Hoover, Herbert, 3, 6, 17, 20, 23–35, 50–52, 61, 63, 76, 82, 105, 107, 111; and 1927 flood relief, 23, 24; relief philosophy of, 24–26, 31, 32, 35; responses to Crash of, 26, 31–34, 63 Hoovervilles, 44, 45 Hopkins, Harry, 65–68, 99, 108 Howe, Frederic, 96 Hughes, Charles Evans, 16, 108 Hull, Cordell, 128 Morehead v New York ex rel Tipaldo, 110 Morgenthau, Henry, 126 Morrill Land Grant Act, 74 municipal assistance, 42, 43, 49 I Ickes, Harold, 65 IMF (International Monetary Fund), 129, 130 immigration and immigration policy, 9, 11, 12, 33, 38, 68 industrial policy, 81–84 N l.c om NAACP (National Association for the Advancement of Colored People), 107 National Consumers’ League, 116 National Labor Relations Act, 105 National Industrial Recovery Act, 82, 95, 96, 110, 140 National Resources Planning Board, 118 New Deal, 1, 2, 3, 4, 5, 6, 56–69, 72, 77, 78, 82, 87, 88, 91, 94, 97, 101, 102, 106, 109, 111, 114, 116, 121, 126, 127, 130; approval/ disapproval of, 62, 64, 67–9, 78, 111; criticism and opponents of, 92, 106, 108–10, 113–18, 120; failures of, 66, 72, 84, 85, 93, 95, 116, 117, 131; major acts of, 137–42; methodology of, 1, 4, 6, 56–58, 67, 131; opposition to, 120; successes of, 57, 68, 91, 92, 93, 102, 117–20, 131 NLRB (National Labor Relations Board), 94, 95, 120, 140, 141 NRA (National Recovery Administration), 81, 83, 84, 94, 96, 108–110 J Johnson, Hugh, 76, 81, 83 Al K Ge t he L w M w T Lamont, Thomas, 29 Lange, Dorothea, 48 Laval, Pierre, 61 League of Nations, 11 Lilienthal, David, 90, 91 London Economic Conference, 72 w MacArthur, Douglas, 51 Marshall, George, 131 Marshall Plan, 130, 131 McNary-Haugen bills, 76, 77 McReynolds, James, 113 Mencken, H L., 25 Mills, Ogden, 34 Moley, Raymond, 59, 77 monetary policy, 17, 18, 27–30, 34, 56, 59, 61, 62, 72, 118, 129 O optimism, 18, 19, 25, 26, 31, 115 P Peek, George, 76, 78, 81 Pacific Railroad Act, 73 145 Index Kennedy, David M., Kennedy, Joseph P., 18, 20, 62 Keynesianism, 118 Keynes, John Maynard, 8–11, 19, 20, 115, 116, 126, 128, 129, 131 106, 110, 111, 115; in the navy, 24, 88 Rumsey, Mary Harriman, 96 Patton, George S., 51 Perkins, Frances, 82, 84 political economy, 6, 70, 85, 88–90, 92, 93, 97, 102, 118 price-fixing, 81–84 PWA (Public Works Administration), 65, 66, 91, 92, 130 S l.c om Al Ge t he T w T w tariffs, 10, 11, 12, 28, 29, 60, 74, 76, 77 tax policy, 31, 74, 80, 93, 94, 99 Terkel, Studs, Thomas Amendment, 61, 62 TNEC (Temporary National Economic Committee), 116 trade policy, 9, 10, 28, 29 Trading with the Enemy Act, 57, 58 tramps See hoboes Treaty of Versailles, 8, 9, 11, 129, 131 w The Great Depression and the New Deal R racism, 24, 38, 40, 44–46, 92, 93, 100, 107, 117 recovery, 57, 72, 80–82, 85, 102, relief, 4, 57, 63–66, 67–9, 82, 116; attitudes toward public, 39, 41, 42, 49, 65, 67, 69, 126; federal efforts for aimed directly at public, 4, 13, 35, 63–66, 116; non–New Deal federal efforts for, 32–34, 63; private efforts for, 32; state and local efforts for, 26, 27, 32, 42, 49, 65, 68; work relief, 64–67, 82, 115, 116, 126 reflation, 4, 56, 59, 61, 62, 69 REA (Rural Electrification Administration), 91, 140 Revenue Act, 93 RFC (Reconstruction Finance Corporation), 34, 50, 57, 62, 63, 66, 137 Roberts, Owen, 114 Rockefeller, John D., 19 Roosevelt, Franklin D., 1, 2, 4–6, 16, 20, 56–69, 77, 78, 82–89, 92, 94, 98, 101, 102, 105, 115, 116, 126, 131; as governor of New York, 32, 35, 52; and the Supreme Court, 109, 110–14; after the new deal, 126–31; campaigning and elections, 2, 5, 35, 52, 77, 89, 102; conservatism of 59, 66, Schecter v United States, 108 Schumpeter, Joseph, 19 Schwellenbach, Lewis, 87 SEC (Securities and Exchange Commission), 62, 139 sectionalism, 74–76, 90, 91, 100, 111, 113, 117 sexism, 44, 45 sharecropping, 48, 119 Smoot-Hawley Tariff, 28 Social Security, 98, 99–101, 106, 114, 118, 129 Social Security Act, 114 socialism, 32, 78, 85, 90 speculation, 16, 17 state power, 85, 95, 96, 101, 102, 107 strikes, 94 stock market, 15–17 stock pools, 16 Supreme Court, 82, 95, 108–11, 113, 114, 118 146 Truman, Harry S, 117 TVA (Tennessee Valley Authority), 89–91, 118, 130, 138 Wagner Act, 95, 96, 110, 114, 141 Wallace, Henry A., 76, 78, 85 West Coast Hotel v Parrish, 114 White, Harry Dexter, 129 White, Walter, 107 WIB (War Industries Board), 76, 81, 83 Wilson, Milburn L., 77, 78 Willkie, Wendell, 91 World Bank, 129, 130 world economy, 6, 20, 29, 72, 128, 130; pre-WWI system, 8, 9, 10, 11, 128; international trade, 28, 29; overseas investment, 17, 62 World Economic Conference, 11, 12 World War I, 4, 7, 8, 9, 11, 12, 38, 72, 75–77, 88, 128 World War II, 5, 65, 126, 128 WPA (Works Progress Administration), 67, 68, 93, 108, 117, 118, 120, 122, 126, 130, 140 U l.c om Un-American Activities Committee, 120 underemployment 40 unemployment, 1, 5, 15, 26, 31–33, 40, 46, 55, 57, 64, 67, 96, 97, 101, 102, 115 126 unions, 32, 41, 82–4, 94–97, 116, 120 Al V W w w w T he wages, 13, 14, 26, 69, 82, 95, 116 Wagner, Robert, 95 147 Index Ge t veterans See Bonus Army Expand your collection of VERY SHORT INTRODUCTIONS l.c om The European Union Gandhi Augustine Intelligence Jung Buddha Paul Continental Philosophy Galileo Freud Wittgenstein Indian Philosophy Rousseau Hegel Kant Cosmology Drugs Russian Literature The French Revolution Philosophy Barthes Animal Rights Kierkegaard Russell Shakespeare Clausewitz Schopenhauer The Russian Revolution Hobbes World Music Mathematics Philosophy of Science Cryptography Quantum Theory Spinoza Choice Theory Al 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 Ge t he T w w 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Classics Music Buddhism Literary Theory Hinduism Psychology Islam Politics Theology Archaeology Judaism Sociology The Koran The Bible Social and Cultural Anthropology History Roman Britain The Anglo-Saxon Age Medieval Britain The Tudors Stuart Britain Eighteenth-Century Britain Nineteenth-Century Britain Twentieth-Century Britain Heidegger Ancient Philosophy Socrates Marx Logic Descartes Machiavelli Aristotle Hume Nietzsche Darwin w 10 11 12 13 14 15 148 l.c om Ancient Egypt Hieroglyphs Medical Ethics Kafka Anarchism Ancient Warfare Global Warming Christianity Modern Art Consciousness Foucault Spanish Civil War The Marquis de Sade Habermas Socialism Dreaming Dinosaurs Renaissance Art Buddhist Ethics Tragedy Sikhism The History of Time Nationalism The World Trade Organization Design The Vikings Fossils Journalism The Crusades Feminism Human Evolution The Dead Sea Scrolls The Brain Global Catastrophes Contemporary Art Philosophy of Law The Renaissance Anglicanism The Roman Empire Photography Al 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 Ge t he T w w 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 Architecture Poststructuralism Postmodernism Democracy Empire Fascism Terrorism Plato Ethics Emotion Northern Ireland Art Theory Locke Modern Ireland Globalization Cold War The History of Astronomy Schizophrenia The Earth Engels British Politics Linguistics The Celts Ideology Prehistory Political Philosophy Postcolonialism Atheism Evolution Molecules Art History Presocratic Philosophy The Elements Dada and Surrealism Egyptian Myth Christian Art Capitalism Particle Physics Free Will Myth w 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 149 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 169 170 171 172 173 174 175 176 177 178 179 180 181 Classical Mythology The New Testament as Literature American Political Parties and Elections Bestsellers Geopolitics Antisemitism Game Theory HIV/AIDS Documentary Film Modern China The Quakers German Literature Nuclear Weapons Law The Old Testament l.c om 167 168 w w w T he Ge t 166 Psychiatry Existentialism The First World War Fundamentalism Economics International Migration Newton Chaos African History Racism Kabbalah Human Rights International Relations The American Presidency The Great Depression and The New Deal Al 152 153 154 155 156 157 158 159 160 161 162 163 164 165 150 ... Ge t Al The Great Depression and the New Deal: A Very Short Introduction Very Short Introductions available now: Al CHRISTIANITY Linda Woodhead CLASSICS Mary Beard and John Henderson CLASSICAL... to prepare the industrial products and capital goods which were to maintain the emigrant populations in their new homes, and to build the railways and w The Great Depression and the New Deal l.c... minds And finally, the impending war in Europe and America’s response to it set aside the New Deal s fiscal caution and experimental care w w The New Deal did not end the Great Depression As one American

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  • Cover

  • Title page

  • Contents

  • Acknowledgments

  • List of Illustrations

  • Introduction

  • Chapter 1: The World in Debt

  • Chapter 2: The Hoover Years

  • Chapter 3: Americans in the Depression

  • Chapter 4: Reflation and Relief

  • Chapter 5: Managing Farm and Factory

  • Chapter 6: Countervailing Power

  • Chapter 7: The End of the Beginning

  • Conclusion: The New American Way at Home and Around the World

  • Further Reading

  • Index

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